Detroit Public Schools May Declare Bankruptcy

The Detroit News reports:

Detroit Public Schools, struggling with a multiyear deficit, will cut 700 more employees and is even considering bankruptcy, emergency financial manager Robert Bobb said Monday.

But even the cuts, including a work force reduction of 2,451 -- almost 18 percent -- won't eliminate a "legacy deficit" of $259.5 million, said Bobb. He said the district overspent its budget for seven years and that eliminating the deficit in one year would be too harmful to students.

Corruption is a major problem here.